Investigating The Deployment of The Social Impact Sukuk for The Development of Not-For-Profit Hospitals and Cemeteries in Nigeria

This study investigated the deployment of social impact sukuk to develop not-for-profit hospitals and cemeteries across Nigeria's states. Currently, long-standing funding deficits exist in socially critical but non-revenue-generating infrastructure (Anderson, 2022). The research used a qualitative design to perform a content analysis of academic literature, regulatory frameworks and institutional reports. The results have shown that the sukuk regulation and financial architecture in Nigeria present a fairly enabling environment but have institutional weaknesses in governance, financial reporting, and accountability, which limit feasibility and long-term effectiveness. Social impact sukuk has high potential to enhance service accessibility and infrastructure quality, provided blended finance structures and effective impact measurement systems are adopted. The ability to mobilize capital and the intensity of governance of social impact sukuk are superior to those of other Islamic social finance instruments, which is why this instrument should be used to make socially oriented infrastructure investments. The research findings are as follows: to deploy effectively, it is necessary to implement specific changes within institutions, a strategic combination of philanthropic and public capital, and improved transparency mechanisms. The social impact of sukuk can serve as a gamechanger in developing sustainable social infrastructure in Nigeria by addressing these prerequisites.